The Presentation Room

In an effort to generate some working cash flow for Motown Initiative, the team set off to Chicago to meet with a couple marketing agencies for production work.  Using 4^th Deck, our production arm, along with the knowledge of online video we have developed over the past year, we compiled a compelling presentation for potential clients.  We saw this as the only logical route to generate additional revenue in meantime.  Our main meeting was with Burrell, a well known agency that has an expertise in minority market strategy.

Early Thursday morning, the team met up in the basement of Burrell’s building on Michigan Ave.  It was an ideal location, with its plethora of restaurants.  At this point, just a couple hours before the meeting, we had not had time to actually do a group run-through.  This was the first time we’d coordinate who is speaking on what slide and how to manage transition between speakers.  To add to the challenge of preparing for our 10:30am meeting, our laptop batteries starting running out and the coffee shop we were at had no plug. Can you imagine?!? Its no wonder we were the only people in this place…should have got a clue I guess J.  Either way, we were able to complete our slides and vaguely plan out our presentation strategy.   Our next stop was Dunkin Donuts, because we didn’t want a hungry audience.  Not to mention, I miss Dunkin Donuts after being on the west coast for four years.  After spending an unbelievable amount of money on pastries and coffee we were off to the 29^th floor (we spent $75 btw…dang coffee is expensive).

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Over the past couple weeks the team has been all over the place, but our main focus has been developing a pitch for Burrell, an ad agency in Chicago.  Burrell handles major clients, including, Toyota, McDonalds and Verizon, focusing predominantly on minority markets.  If you’ve seen a McD’s commercial with Beyonce singing or a Tide commercial that looks like it has some of the cast from Soul Food in it, that’s their work.  They also have some great general market efforts for Verizon and Bounty.  In anycase, we have been offered an opportunity to present our online video findings as well as production capabilities.  This is not only a good chance for us to start developing revenue through our production office, but it also will allow us to get feedback on our upcoming website with regards ad placement.

Over the next couple days we’ll be finishing up our powerpoint and integrating some cool reels that should, as they say, “knock their socks off”, for lack of a better phrase.  I’ll post those up sometime in the near future for you guys to see.  We also came up with some example ad delivery formats involving their brands (An example of a Tide in-video interactive module can be seen to the right).  We want to show them the advantages of online marketing and how it can be used to better serve their clients needs.   So i’ll let you guys know how it goes, wish us luck.

Just when I thought I had a good pitch together, I had to mess around and get more opinions on the matter.  It seems it’s not enough to just have one trick up your sleeve.   When Tim Wakefield (Red Sox, not a fan or anything but the guy is good) steps to the mound, he doesn’t throw the same curve ball over and over,  he switchs it up.   You have to know who you’re pitching to and how to get past them.  While my initial pitch was quite suitable for its purpose, I have yet to pitch to any resident silicon valley VCs.   Pitching to that crowd is a whole different ball game.
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June  11th, 2009….Earlier on last week one of my partners brought a pitch opportunity to my attention, but it wasn’t the ordinary gig.  Not to my surprise, America is adopting another rip off of a British reality show.  This time it’s the Dragon’s Den, but the show here will be called “The Shark Tank”.   Its funny I had so much trouble coming up with a pitch line for MI, cause for this I can easily describe it as “American idol of Entrepreneurs”.   While I didn’t know who I would be pitching to, I did know casting call was June 6th and I only had a few days to get myself together. (follow the jump)

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I think I got something here guys, please comment and let me know what you think…
Here’s the concept

“The only online video experience you can call you own”

I really still do like “The iPhone for Broadband video”, but it doesn’t instantly draw the conclusions or curiosity from people that I thought it would. Not to my surprise, I found that there are too many different opinions on what the iPhone is and represents. Oh well, I’ll keep that one in my back pocket.

May 5th, 2009… Keep an open mind about this, but I think that I have come up with my first reasonable concept phrase….

“Iphone for broadband video”

Why?  Well not for any obvious high level attributes.  Of course we believe our product will be stylish, user friendly and revolutionary.  The more important aspect to take a deeper look at though is why the product is so successful.  Can you take a guess (its funny I find that most people don’t know why iPhone is successful beyond the branding aspect)

Iphone is a mobile device that effortlessly delivers a unique experience to every user.  No other cell phone has ever done this.  You’ve always had smart phones that were essentially pocket PCs, that had customizable capability, but the fact is the approach other cell phones took to the user interface as well as product expansion was incorrect.  So the first thing we have in common is  “unique experience for every user”.

Iphone’s application store allows for the world to bring new solutions to common platform, further enhancing each user’s experience.  In the same way, our website will have original content and accept content proposals from users, thus expanding our content selection.

There are some other details that draw similiarities between our website design and iPhone but I think I’ll uncover those once we’ve done a little more development work.

Any thoughts on this concept?

April 29th, 2009…..As I learn more about business development, pitches, strategy, etc I just keeping thinking…”man I should really get my MBA”. Unfortunately, I haven’t been able to justify the opportunity cost, considering I probably wouldn’t get a full ride.I’ve decided that I will be learning through the MBA programs that my friends attend, without actually being enrolled in school haha. Yes, I have been sitting in on random classes, and even participating in them. I am actually going to enroll a class at some point, but for now no one has said anything about my presence in class. They kinda look at me funny sometimes, probably thinking to themselves “who is this guy”? but o well, what can you do? haha

With the help of all my friends and business partners, who are getting MBA’s at the top schools in the nation, I hope to gain the knowledge that will help my latest venture be even more successful.

For those of you who don’t know my friends, and can’t sneak into classes, don’t fret. There are some great resources online, and as the blog continues I’ll definitely be talking about them. One of the most recent finds one of my friends put me on to is Venture Hacks. Great start-up info there. Check out this Stanford class that was posted on their blog…

http://venturehacks.com/articles/customer-development-course

I’ll be reviewing this all week for sure.

April 6th, 2009…. After 2 months of developing upon my broadband video vision, I though it was about time for me to start getting my hands dirty with a comprehensive business plan. I’ve complete my competitive analysis, so I understand the market, but its time to take my high level vision and really detail how the idea will become a business.

Over the past week I complete an industry overview section for the business plan, and what I found is that there is currently one major challenge to the broadband market.  How can ad revenue be increased in the market?

While I know that my team has devised some viable solutions to this challenge, I also know that we plan to deliver so much more than just a revolutionary advertisement platform.  The question is can we successfully pitch such a complex idea to an investor.  Will they believe that we can actuate on our plan considering so many experienced teams have, in a sense…failed?

I’ve decided to spend the next couple weeks in search of a short phrase that can concisely communicate what Motown Initiative’s website will offer. If I can’t figure out a “pitch line” of sorts, I am going to adjust the scope of this project.  Maybe I’ll just focus specifically on developing solutions to the ad revenue model.  There are few competitors in that line of business, and it is the core component to my current business strategy.  Regardless of what direction I decide to take with Motown Initiative, I do know one thing, the social mission will not be lost.  Revitalizing Detroit remains the end game.